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Economy of Shmakalaka
The economy of Shmakalaka 'is a large mixed market economy. It is closely aligned with the Economies of the United States of America and Canada through the North American Free Trade Agreement which Mexico subsequently joined in 1994. The Original NAFTA being signed in 1981. Shmakalaka previously was a large trading partner of the United Kingdom prior to their joining of the EU in 1972. The nations major exchange the Shmakalakan Exchange, is among one of the biggest in the Americas. The Shmakalakan Economy is according to the IMF (International Monetary Fund) the 18th largest economy by Nominal GDP at 900,000,000 ('900 billion) behind the Netherlands and in front of Saudi Arabia. With a GDP Per Capita of 41,700. Shmakalaka has a national net Worth/Wealth of 3.4 trillion, ranking as the 15th most wealthy country in between Switzerland and the Netherlands. Shmakalaka generally suffers from a relatively high level of Income inequality similar to the United States of America when compared to other developed Western Countries such as Canada, Australia or those found in Europe. Shmakalaka is home to the Shmakalakan Commonwealth Stock Exchange (SSX) and the Costa Dourado Stock Exchange (CDX). The SSX also operates the SSX 100 which is the nations main Stock Market Index. The Currency of Shmakalaka is the Menso (SM$, Shmakalakan Dollar), the Menso is the 7th most traded currency in the world behind the Canadian Dollar and ahead of the Swiss Franc. As of 2019 1 USD$ is worth 1.47 SM$ History Sectors Industry Agriculture Shmakalaka is a large producer and exporter of Fruit and Vegetables, due to the ideal weather conditions and fertile volcanic soil that make growing very productive. Shmakalaka is the 8th largest producer of wine with a total output of 1,196,643 tonnes produced in 2016. Shmakalaka is also one of the largest growers of coffee, compared to other nations the Shmakalakan beans are of a much higher quality and are highly sought after. The coastal Mediterranean esque climate also sees Shmakalaka as one of the largest olive producing nations in the world, around 60% of the total production goes towards Olive Oil production, in 2017 Shmakalaka produced 1,250,000 metric tonnes of Olives. Shmakalaka is large exporters of Avocados producing 312,000 tonnes in 2016 making it the 3rd largest Avocado producer in the world, Tomato's, Chillies, Capsicum as well to name a few, the Agricultural industry in Shmakalaka is dominated by the Horticultural side, when compared to dairy or other forms of farming, Shmakalaka is a large importer of Dairy from Australia and New Zealand. Shmakalaka was a large producer of wool during the 1800s however the economy has moved on although sheep farming is still the most common form of animal farming, far ahead of chickens and cows. Manufacturing Shmakalaka has many assembly plants for Japanese products on their way to either the Shmakalakan market or the South American markets, Toyota, Honda, Mazda and Subaru all have assembly plants in the nation, Shmakalaka is one of the largest Brewing countries in the world producing large quantities of Beer and Cider of which around 66% is exported. Shmakalaka is a large producer of various Oils such as Lavender and Olive most notably. In 2002 Boeing began engine manufacturing in Shmakalaka by 2012 Airbus and Bombardier had both started operations in the country, this is in part due to the high quality and productive labour force Shmakalaka has to offer. Mining Shmakalaka does not mine as much as it use to. Gold, Platinum, Rhodium and Palladium are still produced today albeit at much smaller quantities then previously as over time Shmakalaka has moved away from Mining and used the more sustainable and profitable Agricultural sector for Revenue. Shmakalaka is still a large producer of Gemstones most common being Diamond and Ruby. Services Finance Tourism Tourism plays a major role in the Shmakalakan economy and during the year of 2017 Shmakalaka welcomed over 15.1 Million tourists during the calendar year. Education Media Logistics Shipping plays a important role in the Shmakalakan economy. Infrastructure Employment Trading Partners Two way Trade measured in billions ($) Top Export Markets Top Import Sources Trade Agreements Canada (1984) (NAFTA) Shmakalaka imports Canadian crude Chile (2003) Australia (1986) Shmakalaka is a large importer of Australian Meat and dairy products (Beef, Lamb) New Zealand (1986) Shmakalaka imports a large amount of Dairy and Meat products from New Zealand. Japan (1994)(II 2005) Japan exports steel, machinery, vehicles and mechanical parts to Shmakalaka United States (1988) (NAFTA) Mexico (NAFTA) Panama (2008) Singapore (2005) Malaysia (2014) Ukraine (2016) Budget Budget totals 315 billion dollars Expenditure Defence - 9.6 Billion Education - 15.4 Billion Health - 52 Billion Social Security and Welfare - 120 Billion General Public Services - 8 Billion Other - 110 Billion Currency Shmakalakan Dollar also called the Menso (SM$) was adopted as the national currency in 1986 changing from the Shmakalakan Pound. Shmakalaka used the British pounds, shillings and pence system until federation when trade with the United States and Canada who used the decimal system was taken into account. From 1901 Shmakalaka used a Decimal pound composed of 100 pence per pound it was called the Shmakalakan Pound to distinguish it from its British and Australian counter part's Notes $5 — Her Majesty Queen Elizabeth II and the national capital, $10 — Poets AB “Banjo” Paterson and Dame Mary Gilmore, $20 —The reverend John Flynn and Mary Reibey, $50 — Inventor David Unaipon and Edith Cowan, $100 — Dame Nellie Melba and General Sir John Monash Coins .05 — The echidna, also called the spiny anteater, .10 — A Penstos, .20 — A Jaguar, .50 — The Shmakalakan coat of arms, 1.00 — A Koab, 2.00 — An aboriginal tribal leader set against the Southern Cross and native grass trees